Kane Investment Management Inc. Trims Stake in Arista Networks, Inc. $ANET

Kane Investment Management Inc. lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 56.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,400 shares of the technology company’s stock after selling 4,432 shares during the quarter. Kane Investment Management Inc.’s holdings in Arista Networks were worth $348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Arista Networks by 1.8% during the first quarter. Vanguard Group Inc. now owns 97,856,933 shares of the technology company’s stock valued at $7,581,955,000 after purchasing an additional 1,771,982 shares during the period. Geode Capital Management LLC lifted its position in shares of Arista Networks by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock valued at $2,606,694,000 after buying an additional 128,977 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Arista Networks by 9.0% during the 1st quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company’s stock valued at $1,778,880,000 after buying an additional 1,889,198 shares in the last quarter. Nuveen LLC bought a new position in shares of Arista Networks during the 1st quarter valued at approximately $933,626,000. Finally, Northern Trust Corp increased its holdings in Arista Networks by 3.7% in the 1st quarter. Northern Trust Corp now owns 10,315,493 shares of the technology company’s stock worth $799,244,000 after acquiring an additional 372,677 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of Arista Networks in a report on Friday, September 12th. Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Wells Fargo & Company upped their target price on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Evercore ISI raised their price target on Arista Networks from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Finally, Citigroup upped their price objective on Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.31.

Arista Networks Trading Up 0.6%

Shares of ANET stock opened at $131.13 on Friday. The stock has a market capitalization of $165.13 billion, a price-to-earnings ratio of 51.57, a price-to-earnings-growth ratio of 3.37 and a beta of 1.48. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The stock’s 50-day moving average price is $146.16 and its 200-day moving average price is $121.48.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a return on equity of 31.05% and a net margin of 40.90%.The firm’s revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.40 earnings per share. Arista Networks has set its Q4 2025 guidance at EPS. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 1,247,688 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the completion of the transaction, the chief executive officer owned 5,383,207 shares in the company, valued at $799,567,735.71. This trade represents a 18.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kenneth Duda sold 30,000 shares of the stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the completion of the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $1,852,324. The trade was a 69.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,009,040 shares of company stock valued at $294,365,034 over the last 90 days. 3.39% of the stock is owned by corporate insiders.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.